UBS Group Cuts Landstar System (NASDAQ:LSTR) Price Target to $149.00

Key Points

• UBS Group has lowered its price target for Landstar System from $154.00 to $149.00, maintaining a "neutral" rating on the stock.
• The stock has declined 3.1% to $133.64, with a potential upside of 11.49% based on the new target price.
• Research analysts currently hold a consensus rating of "Hold" for Landstar System, with a consensus price target of $149.69.

Landstar System (NASDAQ:LSTR - Free Report) had its target price cut by UBS Group from $154.00 to $149.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the transportation company's stock.

Several other equities research analysts also recently weighed in on the company. TD Cowen lowered their price target on Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a report on Wednesday. Evercore ISI cut their price objective on shares of Landstar System from $135.00 to $132.00 and set an "in-line" rating on the stock in a report on Wednesday. Barclays initiated coverage on shares of Landstar System in a research note on Monday, June 9th. They issued an "equal weight" rating and a $145.00 target price for the company. Jefferies Financial Group dropped their target price on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Truist Financial cut their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $145.17.

Landstar System Stock Down 3.7%

LSTR traded down $5.00 during trading on Wednesday, hitting $128.37. The stock had a trading volume of 429,550 shares, compared to its average volume of 446,777. The stock has a 50 day simple moving average of $139.28 and a two-hundred day simple moving average of $146.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.03 and a current ratio of 2.00. Landstar System has a twelve month low of $128.10 and a twelve month high of $196.86. The company has a market capitalization of $4.49 billion, a PE ratio of 26.91 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 EPS. On average, research analysts predict that Landstar System will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, August 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Landstar System's dividend payout ratio (DPR) is presently 33.54%.

Institutional Trading of Landstar System

Several hedge funds and other institutional investors have recently bought and sold shares of LSTR. American Century Companies Inc. boosted its position in Landstar System by 7.5% in the 4th quarter. American Century Companies Inc. now owns 72,069 shares of the transportation company's stock worth $12,386,000 after purchasing an additional 5,055 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Landstar System by 27.8% in the 4th quarter. LPL Financial LLC now owns 21,715 shares of the transportation company's stock valued at $3,755,000 after purchasing an additional 4,728 shares during the period. Blair William & Co. IL boosted its holdings in Landstar System by 66.6% during the fourth quarter. Blair William & Co. IL now owns 15,034 shares of the transportation company's stock worth $2,584,000 after buying an additional 6,012 shares in the last quarter. Norges Bank purchased a new stake in Landstar System during the fourth quarter worth $54,088,000. Finally, Pictet Asset Management Holding SA grew its position in Landstar System by 14.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,392 shares of the transportation company's stock valued at $927,000 after buying an additional 665 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.